Word: nonfarm
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...employers last month added 248,000 jobs, a larger than expected gain that follows on the heels of sizable nonfarm payroll increases in March and April, according to the Bureau of Labor Statistics. The Business Roundtable announced other promising news last week. When the group surveyed its CEO members, 38% said their companies would be adding jobs over the next six months, compared with just 33% who made that prediction three months...
...layoffs rise, so does productivity. The Department of Labor reported last week that nonfarm business productivity clocked an annualized gain in the third quarter of 4% over the preceding quarter. In a typical slump, productivity declines as output tumbles along with hours worked. But this time employers started shedding workers early. And they're still doing it, even though most economists consider the recession technically over. Some employers have boosted productivity by using temporary workers in place of full-time staff. For others, heavy investments in technology made during the fat years are paying off. This holiday season, for instance...
Economists point out that the Digital Revolution has not yet been reflected in productivity statistics. The annual growth of nonfarm productivity during the 1980s and 1990s has averaged about 1%, in contrast to almost 3% in the 1960s. But that may be changing. During the past year, productivity grew about 2.5%. And in the most recent quarter the rate was more than...
These days, though, Nethercutt is making exceptions for some Americans. During a recent session of the House Appropriations Committee, he helped beat back a proposal to cut crop subsidies to farm owners who earn more than $100,000 a year in nonfarm income, a measure known as the "Sam Donaldson Amendment,'' after the abc newsman who collected five-figure federal subsidies over the past two years to support his New Mexico sheep ranch. When asked why wealthy farmers should not help balance the budget, Nethercutt, sounding remarkably like Foley, replies that some spending programs are "just a sensible...
...once again the world leader in productivity -- output per worker-hour -- the most important measure of an economy's power to compete. After more than two decades of healthy annual advances, American nonfarm productivity growth declined and sometimes reversed after 1973. Last year it grew nearly 3%, much of it due to blood-curdling corporate restructuring that was marked by increased automation, layoffs and lower wages. "The Europeans have barely begun that process," says William Archey, a senior vice president of the U.S. Chamber of Commerce...